Nev. Admin. Code § 692C.035

Current through June 11, 2024

Section 692C.035 - Filing registration statement or similar report on behalf of affiliated insurer; filing consolidated statement or report

1. Except as otherwise provided in subsection 4:

(a) An authorized insurer may file a registration statement on behalf of any affiliated insurer that is required to register pursuant to NRS 692C.260 to 692C.350, inclusive. A registration statement may include information not required pursuant to chapter 692C of NRS regarding any insurer in the insurance holding company system even if the insurer is not authorized to do business in this State. Except as otherwise provided in paragraph (b), the registration statement must be filed on Form B, as set forth in NAC 692C.030.

(b) In lieu of filing a registration statement on Form B, an authorized insurer may file a copy of the registration statement or similar report that it is required to file in its state of domicile if:

(1) The statement or report includes information that is substantially similar to the information required to be furnished on Form B; and

(2) The authorized insurer is the principal insurance company in the insurance holding company system.

2. The question of whether an authorized insurer is the principal insurance company in an insurance holding company system is a question of fact, and an authorized insurer filing a registration statement or report in lieu of Form B on behalf of an affiliated insurer shall set forth a brief statement of facts which substantiates the authorized insurer's claim that it is the principal insurer in the insurance holding company system.

3. After obtaining the approval of the Commissioner, an unauthorized insurer may file a registration statement or report in accordance with the provisions of subsections 1 and 2.

4. An affiliated insurer is not required to obtain the approval of the Commissioner before filing a consolidated statement or report or taking any other action that may be allowed by the Commissioner pursuant to NRS 692C.310 or 692C.320. The Commissioner may, however, require each affiliated insurer to provide any required information on an individual basis if the Commissioner determines it is necessary in the interest of clarity, ease of administration or the public good.

Nev. Admin. Code § 692C.035

Added to NAC by Comm'r of Insurance by R078-16, eff. 12-21-2016

NRS 679B.130, 692C.120, 692C.270, 692C.310, 692C.320